Days on Market (DOM)

Days on Market (DOM) is the number of calendar days a property listing has been active on the MLS® system from the date it was listed to the date an accepted offer was reached or the listing expired. In BC, this figure is tracked through the Multiple Listing Service® operated by regional real estate boards such as the Greater Vancouver REALTORS® or the Fraser Valley Real Estate Board. DOM is a publicly visible market metric that buyers, sellers, and licensees use to gauge how quickly properties are moving in a given area or price range.

Licensed real estate professionals in BC are governed by the Real Estate Services Act (RESA) and the rules established by the British Columbia Financial Services Authority (BCFSA), which require licensees to act in the best interests of their clients and to provide accurate, relevant market information. When discussing DOM, a licensee acting as a buyer's agent must disclose material market information — including a notably high or low DOM — that could affect a client's negotiating position. Failure to provide competent, honest market analysis can constitute a breach of the duty of competence and honest dealing under RESA.

Yes — a high DOM (generally 30 or more days) can signal to a buyer that a seller may be more motivated to negotiate on price or terms, since the property has not attracted an accepted offer within a typical market timeframe. In BC, there is no statute that restricts what price a buyer may offer, and buyers are free to use publicly available MLS® data, including DOM, to inform their offers. A buyer's agent governed by BCFSA and RESA has a duty to share this type of material market information with their client to support informed decision-making.

When a BC listing is cancelled and then re-listed on the MLS® as a new listing, the DOM counter typically resets to zero under standard MLS® rules, which can make a property that has been on the market for an extended cumulative period appear fresher than it actually is. Some real estate boards in BC track cumulative days on market (CDOM) as a separate field to provide a more complete history. Buyers and their agents are encouraged to review listing history and ask their licensee to investigate any unusually recent re-list dates, as BCFSA's rules under RESA require licensees to provide accurate and not misleading information to clients.

For strata lots in BC, DOM reflects the same MLS® metric as any other property type, but buyers should understand that a high DOM on a strata listing may relate to strata-specific issues such as pending special levies, inadequate contingency reserve funds, restrictive bylaws, or a depreciation report revealing significant deferred maintenance — all of which are governed by the Strata Property Act (SBC 1998, c. 43). Buyers of strata lots are entitled to request a Form B Information Certificate from the strata corporation, which discloses financial and bylaw information material to the purchase decision. A licensee acting for a buyer has a duty under RESA to help their client obtain and understand these strata documents, which may explain why a property has accumulated a high DOM.

A property located within BC's Agricultural Land Reserve (ALR) — administered by the Agricultural Land Commission (ALC) under the Agricultural Land Commission Act (SBC 2002, c. 36) — may experience a high DOM because the pool of eligible buyers is narrowed by ALR use restrictions, including limits on non-farm use, subdivision, and residential construction. Buyers considering ALR properties should review ALC use regulations carefully, as permitted uses and any required non-farm-use applications can significantly affect a property's marketability and therefore its DOM. Consulting the ALC directly is recommended for property-specific guidance on permitted uses.

No — the BC Property Transfer Tax, levied under the Property Transfer Tax Act, is calculated based on the fair market value of the property at the time of transfer, not on how long it was listed. PTT in BC is charged at 1% on the first $200,000 of fair market value, 2% on the portion from $200,001 to $3,000,000, and 3% on the portion above $3,000,000, with an additional 2% on the residential portion above $3,000,000. Exemptions such as the First-Time Home Buyers' Program (full exemption for qualifying properties up to $835,000) and the Newly Built Home Exemption (up to $1,100,000) are determined by property type and buyer eligibility, not by DOM.

Under BC's Wills, Estates and Succession Act (WESA), an executor or personal representative has a fiduciary duty to obtain fair market value when selling estate property, and a prolonged high DOM could attract scrutiny from beneficiaries if it suggests the property was mispriced or mismanaged. A high DOM does not in itself create a legal problem, but executors should document their pricing decisions and any adjustments made in response to market feedback to demonstrate their duty of care has been met. Estate sales with unusual DOM histories may also require court approval in certain circumstances, and executors are encouraged to seek independent legal advice.

Licensees in BC must comply with Canada's Anti-Spam Legislation (CASL) when sending unsolicited commercial electronic messages, which means they cannot email or text a seller about their high-DOM listing without either express or implied consent as defined under CASL. Additionally, the Personal Information Protection Act (PIPA) of BC governs how licensees collect, use, and disclose personal information — including contact details obtained from MLS® data — and requires that personal information only be used for the purposes for which it was collected. Licensees should consult BCFSA guidance under RESA to ensure their prospecting practices meet both privacy and professional conduct standards.

BC's Real Estate Services Act (RESA) and BCFSA's rules require licensees to disclose all known material latent defects and to not make false or misleading representations, but there is no specific statutory provision requiring the proactive disclosure of DOM history as a standalone disclosure item. However, a buyer's agent has a duty of loyalty and competence under RESA to research and share material market information — which can include DOM history — that would reasonably affect a buyer's decision. Sellers and their listing licensees must not actively misrepresent market history, including by concealing a pattern of repeated re-listings designed to artificially reset the DOM counter.